Tuesday 13 November 2018
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reliefweb - 22 days ago

Nepal: NRA ends concessional loans to rebuild homes

Source: The Kathmandu Post Country: Nepal
Survivors of the 2015 earthquake cannot avail the concessional loan, with an interest rate of two percent, since the deadline to apply ended last week. The authority has discontinued the loan following objections from banks and financial institutions and the Nepal Rastra Bank (NRB). Offering concessional loans at a meagre interest rate, with the uncertainty over timely payback, and putting public money at stake is not fair, the central bank (NRB) reasoned. E

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